Plenitude has signed an agreement to acquire 100% of integrated Italian renewable electricity producer PLT.
The company will take control of PLT Energia and SEF and their respective subsidiaries and affiliates. The agreement will need customary approvals to become effective.
The deal will help strengthen the company’s presence in Italy and Spain, with over 400MW (>80% wind power) of assets in Italy, of which 80% already operational and 20% are under construction with start-up expected by 2024.
In addition, the deal adds another 1.2GW of projects under development (>80% wind power) in Italy and Spain, 60% of which are in advanced maturity stage.
This expands Plenitude’s pipeline of renewable energy projects to a total of about 13GW.
The agreement also adds 90,000 retail customers in Italy and a team of 150 people with many years of experience in wind and photovoltaic technologies, with skills ranging from development, construction and maintenance of renewable energy plants to sales to retail customers.
CEO of Plenitude Stefano Goberti said: “This agreement marks a significant step forward in achieving our goals. We are acquiring platform with a highly valuable projects and expertise, which fits into Plenitude’s business model and will enable us to strengthen the company’s growth in Italy and abroad.
“This acquisition will allow us to exceed 2GW of net installed capacity and, in line with the targets announced to the market, we expect to reach more than 6GW in 2025. Such growth supported by a pipeline of 13GW of solar and wind projects and by strategic and synergic agreements such as the one we are announcing today.”